LME aluminium price eases 0.3% on September 10; stocks remain stable at 244,525/t
The London Metal Exchange (LME) aluminium price graph contracted on September 10 across cash and contracts, with longer-dated contracts reporting nearly 1 per cent decline. The aluminium opening stocks, however, remained stable. The LME aluminium cash bid price shifted from USD 3,351.5 per tonne on...
Aluminium tariffs, not Trump’s alcohol ban, are the bigger threat to BC brewers
The escalating US-Canada trade conflict is putting pressure on the US alcohol industry from two directions. The BC wine and beer industry is facing fresh uncertainty as the US President Donald Trump proposed to block most Canadian alcoholic beverage imports from September 29, 2026. While British...
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Chalco plans to cut aluminium output by 16% in 2014
Aluminium Corporation of China (Chalco) plans to reduce its aluminium production by 16% year-on-year to 3.21 million tonnes in 2014, the company said. In 2013, the company produced 3.84 million tonnes, down 9% from output a year earlier. Alumina output is expected to reach 13.02 million tonnes in...
Noranda Aluminum Holding Corp.’s hold rating reaffirmed at Citigroup Inc. (NOR)
Noranda Aluminum Holding Corp.‘s stock had its “hold” rating reiterated by analysts at Citigroup Inc. in a research report issued to clients and investors on Thursday, Analyst Ratings Net reports. They currently have a $4.20 price objective on the stock. Citigroup Inc.’s target price indicates a...
RHB Research maintains Buy on Press Metal, raises fair value to RM5.47
RHB Research has maintained its Buy rating Press Metal Bhd with a higher fair value (FV) of RM5.47 (from RM4.11) and said the LME aluminium price has moved into a healthy consolidation after its recent surge, while its premium remains firmly at a record-high level - reinforcing that the aluminium...
Century reports first quarter 2014 financial results
Century Aluminum Company reported a net loss of $20.1 million ($0.23 per basic and diluted common share) for the first quarter of 2014. Cost of sales for the quarter included a benefit of $5.5 million related to deferred power contract liability amortization. Results were negatively impacted by a...
Market sees limited room for further fall in Chinese alumina prices
After weeks of declines, Chinese alumina prices seemed to be stabilising this week with supply and demand approaching a balance. On the local spot market, alumina prices were at 2,180-2,520 yuan ($353-408) per tonne on Thursday April 24, compared with 2,200-2,520 yuan per tonne on Thursday April...
Rusal posting record monthly Rally as Goldman says buy
United Co. Rusal, the world’s largest aluminum producer, is posting its best monthly rally on record as Goldman Sachs Group Inc. and VTB Capital predict a rebound in the metal will make the company profitable again. Shares of Rusal jumped 2.6 percent to an 11-month high in Moscow yesterday,...
Century Aluminum to release quarterly earnings on Thursday
Century Aluminum is scheduled to announce its Q114 earnings results on Thursday, April 24th. Analysts expect the company to announce earnings of ($0.05) per share and revenue of $437.44 million for the quarter. Century Aluminum last announced its earnings results on Thursday, February 20th. The...
Constellium launches refinancing transactions
Constellium N.V. today announced that the Company intends to offer, subject to market and other conditions, approximately €590 million of senior unsecured notes (the “Notes”) consisting of U.S. dollar denominated senior notes due 2024 and euro denominated notes due 2021 (the “Offering”). The Notes...
LME aluminium to break support at $1,848
LME aluminium is expected to break a support at $1,848 per tonne and fall more to $1,814, as a drop from the April 11 high of $1,902.50 has not completed. The drop followed a completion of a corrective wave cycle that developed from the Feb. 3 low of $1,671.25. Based on a Fibonacci retracement...
Spot Aluminium Stockpiles declines for the first time in China over a year
The stockpiles of spot aluminium in China was down for the 1st time within a year after the production was cut down in a number of smelters to reduce losses, a survey made by Shanghai Metals Market said that. On a spot basis, stockpiles of aluminium were down in four major trading regions in China...
SHFE aluminum contract to fluctuate
Last Friday night, SHFE 1406 aluminum contract was range-bound after starting at RMB 13,230/mt, and finished the night session flat with the opening price. Trading volumes totaled 952 lots, and positions added 62 lots to 114,216 lots. With LME still closed today, the most active SHFE aluminum...
Service centers’ steel, aluminum deliveries rebound for March
Service centers across North America increased delivery volumes during March, and in most instances managed to reduce their inventory levels, too. The Metals Service Center Institute, which reports the shipment and inventory results in its Monthly Activity Report, stated that “shipment growth...
Aluminium positive for short to medium term: MOSt
Markets have a positive outlook for aluminum in 2014, and expect consumption to grow by about 6%, the same as in 2013. But capacity cuts may lower the surplus during the year as we have seen industry is shutting down inefficient plants to support prices. While most large aluminum companies are...
LME aluminium to retest support at $1,848
LME aluminium is expected to retest a support at $1,848 per tonne, as a drop from the April 11 high of $1,902.50 has not completed. The drop followed the completion of an uptrend that developed from the Feb. 3 low of $1,671.25. A Fibonacci retracement analysis on the trend reveals the support at...
Aluminium outlook positive for 2014, China deciding factor
Aluminium outlook for 2014 appears positive with consumption to grow by 6% as in 2013 but new capacity creation despite shut down of inefficient plants could have a bearing on market. China, the largest consumer and produce of the metal would be a deciding factor for the commodity, according to...
A Strategic Outlook for Aluminium in the Electrical & Electronics Sector to 2022
Global Information Inc. announces the addition of a new market research report "A Strategic Outlook for Aluminium in the Electrical & Electronics Sector to 2022" at GIIResearch.com This study provides a comprehensive review of the market for aluminium in the Electrical & Electronics (E&E) sector in...
Average operating rate expected to be stable at Chinese Aluminum Fabricators
According to a survey made by a Shanghai Metals Market, it is expected that the production rate at the aluminum fabricators in China will have a lit bit of change in the month of April. It is expected that the average operating rate at the Chinese extrusion producers will be 64% in the month of...
Aluminium down 0.3% on global cues
Aluminium prices fell by 0.35% to INR 113.80 per kg in futures trading today, largely in tune with a weakening trend in the global markets on demand concern. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for...
